WITH RNS LIKE THIS3 Oct 2017 11:43
US$10m Revolving Prepayment Facility + Offtake
Mon, 14th Aug 2017 07:00
RNS Number : 8497N
Sirius Petroleum PLC
14 August 2017
14 August 2017
Sirius Petroleum plc
(the "Company" or "Sirius ")
US$10 million Revolving Pre-payment Facility & Offtake Agreement
Signed with BP Oil International Ltd ("BP")
Sirius Petroleum (AIM: SRSP), the investing company focused on oil and gas exploration and development opportunities in Nigeria, is pleased to announce that following completion of technical due diligence on the Ororo field, the Company has entered into a US$10m revolving pre-payment facility ("Pre-payment Agreement" or "Agreement") and commercial offtake agreement ("Offtake Agreement") in respect to the sales of the crude produced from the Ororo Field, with BP Oil International, a subsidiary of BP (LSE: BP).